The figures were also boosted by strong server demand as businesses boosted demand to improve their efficiency and competitiveness.

Reading ahead to Q3, Intel expect a further increase of $11.6 bn in revenue well ahead of market expectations.

"A year ago, we were living in interesting times; today we're living in exciting times." said Graham Palmer, head of Intel UK and Ireland.

Shares in the chipmaker group are leading a rally in the technology sector giving a global markets boost with the Japanese Nikkei gaining 2.5 percent and the ARM Holdings - a chipmaker on the London Stock Exchange boosting the FTSE 100 which was down on ICAP the interdealer broker posting a weak quarter.